United Nations Conference on Trade And Development (UNCTAD) and International Trade Centre - UNCTAD/WTO (ITC) First International Conference on

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United Nations Conference on Trade And
Development (UNCTAD) and International Trade
Centre - UNCTAD/WTO (ITC)First International
Conference on

• Developing Credit Insurance in
• Africa and the Mediterranean

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PUBLIC INFORMATION SOURCES IN THE MIDDLE EAST

• Presented By Mrs. Katerina Miltiadou Malek

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CREDIT INFORMATION

• In Developed Countries
• Connected with the Development of Risk Management
  and
• Credit Insurance

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CREDIT INSURANCE IN THE MIDDLE EAST

• Recently developed
• People not yet very familiar with the Concept.

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CREDIT INFORMATION AGENCIES IN THE MIDDLE EAST

• Appeared 30 years ago
• NOT widely Accepted by the Business People
• Considered to be serving the competition
• Business people were Conservative, Secretive, and
  Uncooperative.

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CREDIT REPORTS

• Enable Credit Insurers and Credit Managers to
• Assess the level of risk involved in dealing
  with certain Business Entity
• Decide whether to trade with a particular
  business and on what terms
• Set the credit limit
• Avoid potential bad debts.

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CREDIT INFORMATION REPORTS

• Should
• Contain accurate and reliable information
• Be comprehensive
• Up to date
• On Time

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Sources of Information

• A. PUBLIC SOURCES
• - Company Registries (Governmental)
• - Chamber of Commerce
• -Court
• B. OFFICIAL PUBLICATIONS
• - Gassettes, etc.

• C. PRIMARY DATA
• - Personal Interviews with the Business Key
  Management, and Observations
• D. REFERENCES
• - Newspaper / Magazine Cuttings
• E. The Market Itself

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COMPANY REGISTRIES

• Governmental Authorities
• Responsible for the registration of all
  companies/Business Entities Operating in a
  country.

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COMPANY LAW

• Regulates the registration procedure of the
  various Business Entities.
• Companies should FILE CERTAIN DOCUMENTS
  Identifying their status.
• REGISTERED Companies become Juridical Persons.

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JURIDICAL PERSON

• Upon Registration Each Company Obtains Its
  Commercial Registration Number and Becomes a
  Juridical Person

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JURIDICAL PERSONS

• Behave as Physical persons in business life.
• Contract, BUY/SELL, SUE and be SUED, Take
  Decisions, etc.

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BEFORE DEALING WITH A REGISTERED COMPANY

• BE INFORMED ON ITS
• 1. Legal Status 2. Owners
• 3. Management 4. Capital
• 5. Finance 6. Nature of Activities

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TRANSPARENCY OF COMPANY LAWS AND REGULATIONS

• The Public HAS THE RIGHT TO Access Official
  Authorities Records on Business Entities.

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TIME

• In the Middle East the search with Public
  Sources is allowed only on written request and at
  the payment of a substantial fee.
• Information might be obtained LATE.
• Business deal might be CANCELED.
• LATE information will be of No Use.

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USE OF ACCURATE CREDIT INFORMATION

• Results
• Strengthening of Trust and Confidence in the
  Business Environment
• Elimination of Fraud, Payment Delays, Bad Debts.

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CONCLUSION

• FAST DECISION MAKING IS IMPORTANT
• TIME IS CRUCIAL
• PROVISION OF INFORMATION ON LINE IS ESSENTIAL
  TODAY.

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THANK YOU FOR YOUR TIME